Credit unions serve a common field of membership based on characteristics like a geographical area, employee groups, or membership in an organization. Becoming a member is simple and easy.

Credit unions arenot-for-profit, member-owned financial institutions that exist to serve the financial needs of their member owners. Their main focus is their members and their local community.

Credit unions are owned by their members and governed in a democratic way by a volunteer board of directors who are also members of the credit union.

ow is a Credit Union Different from a Bank?

Not for profit.

For-profit corporations that offer a full range of financial products and services.

Earnings are returned to members through services like free ATMs, better rates and lower fees.

Earnings go to outside stockholders in the form of dividends.

Insured by NCUA up to $250,000.

Insured by FDIC up to $250,000.

Credit unions are democratically governed, and elections are based on a one-member, one-vote philosophy.

Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.

More than 30,000 surcharge-free ATMs.

Banks require customers to use their branded ATMs and branches for services or pay fees. Some services are unavailable outside the bank.

Credit unions are local, community based financial institutions. Members support their local communities when they bank at a credit union.

Banks are big! The average size of a bank is double that of a credit union.

Credit unions have members, not shareholders.

Banks have customers and shareholders. They must make money from their customers to please shareholders.

he Value of Membership

A Sense of Loyalty - Credit union members often feel a stronger sense of loyalty and a familiar connection because of a shared sense of community.

Better Rates and Lower Fees - A credit union's bottom line is to benefit its membership; earnings are returned through lower loan rates, higher savings rates and contributions to offset fees.

Invest in Financial Education- Because credit unions aren't focused on making a profit, they value educating each of their members on which financial option would be best for their situation rather than what would better the credit union.

A Personal Touch - Many credit unions are willing to work with their members through unexpected (or unforeseen) circumstances to benefit the member and their community.